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Northern Superior Resources Inc. (NSUPF) is a gold exploration company focused on the Chibougamau Camp in Québec, Canada. The Company holds a significant land package exceeding 62,000 hectares, with key properties including Philibert, Lac Surprise, Chevrier, and Croteau. Philibert, located near IAMGOLD's Nelligan Gold project, boasts a new inferred resource of 1,708,800 ounces Au and an indicated resource of 278,900 ounces Au. With promising exploration results and a strategic focus on the Philibert Project, Northern Superior aims to further enhance its mineral reserves and unlock the full potential of its assets.
Northern Superior Resources Inc. has appointed Jean Lafleur, a seasoned geologist with 45 years of experience, to its Technical Committee. Lafleur's expertise in the Chibougamau gold camp and his extensive connections will enhance the company's project advancements. Additionally, Peter Damouni has joined the Board of Directors, replacing Gordon Morrison, who will continue as a consultant. The company has engaged Outside The Box Capital for a 6-month marketing contract worth $100,000. Northern Superior also granted 5,180,000 incentive stock options to directors and employees. These moves indicate a strategic focus on growth within Quebec's mining sector.
Northern Superior Resources Inc. announced the successful closing of a CDN$5 million non-brokered equity private placement on February 9, 2023. The offering involved the issuance of 10,000,000 common shares at CDN$0.50 each. Proceeds will support exploration activities and general corporate purposes. Notable participants included a prominent Canadian institution and strategic investors. Insiders subscribed for a total of 1,700,000 shares, with key executives each investing CDN$250,000. The shares are subject to a four-month hold period ending June 10, 2023. The offering received conditional acceptance from the TSX Venture Exchange on February 6, 2023.
Northern Superior Resources Inc. (TSXV:SUP)(OTCQX:NSUPF) announced a fully subscribed, non-brokered private placement financing of C$5 million. The Company will issue 10 million shares at C$0.50 each, with participation from strategic investors and insiders, including key executives investing C$1.1 million collectively. Proceeds will be used for general corporate purposes, and the Offering's closing is expected before February 6, 2023, pending regulatory approvals. Northern Superior focuses on gold exploration, boasting significant land holdings in Quebec and Ontario, including properties like Philibert and Chevrier, which have substantial inferred gold resources.
Northern Superior Resources Inc. reported promising assay results from the Falcon Gold Zone on its Lac Surprise property. Highlights include DDH LCS-22-067 yielding 1.63 g/t Au over 45.9 metres, and DDH LCS-22-068 showing 0.84 g/t Au over 43.0 metres, with higher grades of 7.92 g/t Au. The Falcon Gold Zone has been defined over a 900-metre strike length and 380 metres vertical depth, demonstrating strong mineralization characteristics similar to the Nelligan gold deposit. Due to successful results, the company expanded its drilling program to 8,200 metres, focusing on resource confirmation and further exploration. Additional assay results are pending.
Northern Superior Resources Inc. reported significant assay results from the Arctic Fox Zone of the Philibert gold property. Highlights include:
- DDH PB-22-360: 5.96 g/t Au over 10.0 metres.
- DDH PB-22-339: 2.94 g/t Au over 14.0 metres.
- 23 additional holes pending results.
Simon Marcotte, President & CEO, expressed optimism about ongoing developments and plans for an updated resource estimate. Overall, the 2022 drill program confirmed high-grade gold presence along the Arctic Fox Zone, which remains a focus for further exploration.
Northern Superior Resources reported significant assay results from the Grey Fox zone of the Philibert gold property, indicating high-grade gold mineralization. Key findings include:
- DDH PB-22-383: 2.44 g/t Au over 21.0 meters.
- DDH PB-22-381: 1.78 g/t Au over 17.5 meters.
- DDH PB-22-376: 1.53 g/t Au over 15.6 meters.
- DDH PB-22-420: 2.07 g/t Au over 11.4 meters.
With 39 additional holes pending and ongoing drilling programs, the company anticipates further positive results ahead.
Northern Superior Resources has received drilling permits from the Ontario government for its TPK Project in Northern Ontario. This project encompasses 17 drill hole locations on the Big Damn and Annex areas, targeting significant gold deposits. The TPK Property features two mineralized systems with high-grade gold concentrations, including exceptional gold grain counts and assays as high as 94 g/t gold. The company plans a spin-out of the TPK Project alongside other Ontario properties to focus on these valuable assets. The merger with Royal Fox Gold Inc. is now complete, allowing further evaluations of opportunities.
Northern Superior Resources Inc. (NSUPF) has successfully completed the acquisition of Royal Fox Gold Inc. through a statutory plan of arrangement, gaining the Philibert gold project located in Québec. The new board includes members from Royal Fox, and notable appointments include Victor Cantore as Executive Chairman and Simon Marcotte as President and CEO. Following this acquisition, Northern Superior holds the largest property portfolio in the Chapais-Chibougamau district, with significant NI 43-101 compliant resources and ongoing drilling projects, enhancing its market position.
Northern Superior Resources (NSUPF) has announced the initiation of a 6,000m diamond drill program on its Croteau Est Property. This ambitious effort is aimed at exploring the Croteau North Shear Zone (CNSZ), which lies parallel to the Croteau-Bouchard Shear Zone (CBSZ), known to host a 640,000-ounce inferred gold resource. Previous drilling, particularly the CRO22-120 hole, yielded promising results, including 1.06g/t Au over 26m. The current program aims to validate the gold-bearing potential north of the CBSZ and includes further 2022 geological exploration.
Northern Superior Resources announced a new 3km long mineralized zone at its Lac Surprise property in Québec. This discovery is based on results from three recent drill holes and two historical holes, revealing significant gold grades, including 2.90 g/t Au over 3m. The company plans a 6,200m drill program in Q4 2022 to explore the Falcon Gold Zone and the new mineralized corridor, aiming for a potential maiden resource in 2023. President Dr. Morris emphasized the promising findings, indicating further drilling is warranted to uncover higher-grade areas.
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